The graphs are not included here; source: Russian Economic Trends
http:/www.hhs.se/site/ret/ret.htm (excellent source of information on Russia in
general).
What went wrong?
Asian Contagion: reppraisal of risk, liquidity problems in investment
funds tradi

15
Financial Crises
J. Bischoffsheim (banker): If I have 10,000 francs and spend 5,000, I have 5,000 francs
to invest. If I invest 10,000, I am anticipating next year. If my neighbor makes some
foolish investment, he cannot lend to me. If I am forced to s

The Swedish Twin
Financial Crisis of 1991/92
By Karl Walentin
The Swedish Banking
Crisis of 1991
Events
Credit losses increased from 0.25% of
lending volume in 1989 to 8% of lending
volume in 1992.
2 of the 5 major Swedish banks basically
became bankrup

Chapter 1
Introduction
1.1
A brief history of crises
What happened in Asia in 1997? Countries such as South Korea, Thailand,
Indonesia, Singapore and Hong Kong, whose economies had previously been
the envy of the world, experienced crises. Banks and other